FCTE vs. YCS

Last updated Jun 23, 2026

FCTE (SMI 3Fourteen Full-Cycle Trend ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - FCTE is a Large Cap Blend Equities fund actively managed by SMI 3Fourteen, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). FCTE is actively managed, while YCS is passively managed. Over the past year, FCTE returned 9.31% vs 31.36% for YCS. At a correlation of -0.04, they often move in opposite directions. FCTE charges 0.85%/yr vs 1.00%/yr for YCS.

Performance

FCTE vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SMI 3Fourteen Full-Cycle Trend ETF (FCTE) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCTE achieves a 13.07% return, which is significantly higher than YCS's 9.78% return.

FCTE

• 1D: 0.37%
• 1M: 4.71%
• YTD: 13.07%
• 6M: 11.47%
• 1Y: 9.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YCS

• 1D: 0.40%
• 1M: 3.71%
• YTD: 9.78%
• 6M: 9.63%
• 1Y: 31.36%
• 3Y*: 18.43%
• 5Y*: 23.50%
• 10Y*: 13.63%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FCTE vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FCTE SMI 3Fourteen Full-Cycle Trend ETF	13.07%	-3.80%	6.19%
YCS ProShares UltraShort Yen	9.78%	9.04%	-2.91%

Correlation

The correlation between FCTE and YCS is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.29
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024	-0.04

Over the past year, the inverse relationship between FCTE and YCS has strengthened: their correlation has moved from -0.04 to -0.29, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

FCTE vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FCTE

FCTE Risk / Return Rank: 18
FCTE Sharpe Ratio Rank: 18
FCTE Sortino Ratio Rank: 18
FCTE Omega Ratio Rank: 17
FCTE Calmar Ratio Rank: 17
FCTE Martin Ratio Rank: 18

YCS

YCS Risk / Return Rank: 61
YCS Sharpe Ratio Rank: 57
YCS Sortino Ratio Rank: 49
YCS Omega Ratio Rank: 57
YCS Calmar Ratio Rank: 77
YCS Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FCTE vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SMI 3Fourteen Full-Cycle Trend ETF (FCTE) and ProShares UltraShort Yen (YCS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FCTE	YCS	Difference
Sharpe ratio: Return per unit of total volatility	0.62	1.86	-1.24
Sortino ratio: Return per unit of downside risk	0.98	2.37	-1.39
Omega ratio: Gain probability vs. loss probability	1.12	1.35	-0.23
Calmar ratio: Return relative to maximum drawdown	0.73	3.79	-3.07
Martin ratio: Return relative to average drawdown	2.01	11.86	-9.85

FCTE vs. YCS - Sharpe Ratio Comparison

The current FCTE Sharpe Ratio is 0.62, which is lower than the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of FCTE and YCS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FCTE vs. YCS - Drawdown Comparison

The maximum FCTE drawdown since its inception was -19.68%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for FCTE and YCS.

Drawdown Indicators

	FCTE	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-19.68%	-49.56%	+29.88%
Max Drawdown (1Y) Largest decline over 1 year	-12.85%	-8.30%	-4.55%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.32%	—
Current Drawdown Current decline from peak	-0.05%	0.00%	-0.05%
Average Drawdown Average peak-to-trough decline	-5.89%	-19.88%	+13.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.64%	2.65%	+1.99%

Volatility

FCTE vs. YCS - Volatility Comparison

SMI 3Fourteen Full-Cycle Trend ETF (FCTE) has a higher volatility of 4.17% compared to ProShares UltraShort Yen (YCS) at 2.22%. This indicates that FCTE's price experiences larger fluctuations and is considered to be riskier than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCTE	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	2.22%	+1.95%
Volatility (6M) Calculated over the trailing 6-month period	12.51%	12.19%	+0.32%
Volatility (1Y) Calculated over the trailing 1-year period	15.15%	16.96%	-1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.63%	21.10%	-2.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.63%	18.96%	-0.33%

FCTE vs. YCS - Expense Ratio Comparison

FCTE has a 0.85% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

FCTE vs. YCS - Dividend Comparison

FCTE's dividend yield for the trailing twelve months is around 0.08%, while YCS has not paid dividends to shareholders.

Position	TTM	2025	2024
FCTE SMI 3Fourteen Full-Cycle Trend ETF	0.08%	0.18%	0.18%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCTE and YCS in my portfolio?

FCTE and YCS have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCTE or YCS?

FCTE has higher volatility (4.17%) compared to YCS (2.22%). In terms of maximum drawdown, FCTE dropped -19.68% vs YCS's -49.56%.

Which ETF is better, FCTE or YCS?

On 1-year performance, YCS leads with 31.36% vs 9.31% for FCTE. On fees, FCTE is cheaper at 0.85% per year. On volatility, YCS has been the lower-risk option at 2.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCTE or YCS?

Over the 1-year period, YCS has performed better with a 31.36% return vs 9.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCTE or YCS?

FCTE is cheaper with a 0.85% expense ratio, compared with 1.00% for YCS.

Which ETF pays a higher dividend yield, FCTE or YCS?

FCTE has the higher dividend yield at 0.08%, compared with 0.00% for YCS.

What is the main difference between FCTE and YCS?

FCTE is categorized as Large Cap Blend Equities, while YCS is Leveraged Currency. They also come from different issuers: SMI 3Fourteen and ProShares. Their fees differ too: 0.85% for FCTE and 1.00% for YCS.

Which has better risk-adjusted returns?

YCS currently has the higher Sharpe Ratio (1.86 vs 0.62), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.